Chainlink (LINK) is currently priced at $9.51, showing a 24-hour decline of 5.88%. The daily trading range has been relatively tight, with a high of $10.11 and a low of $9.39, suggesting a market struggling to find momentum.

The trading volume stands at approximately $886.99 million, which represents a 13.15% ratio of the market cap, indicating a moderate level of trading activity. The short-term moving averages reflect bearish sentiment, with the 8 SMA at $9.93 showing a decline of 4.20%, and longer-term averages like the 144 SMA at $11.21 indicating a 15.16% drop from current prices.

Momentum indicators further support the bearish outlook, with the 1-hour RSI at 35 and the 7-day RSI slightly lower at 36, both indicating oversold conditions. Additionally, Chainlink has experienced significant negative price changes over various time frames, with a 7-day decline of 21.24%, a 14-day drop of 30.80%, and a 30-day decrease of 26.87%.

Given the persistent downward trend in prices and the lack of bullish momentum as reflected in the RSI levels and moving averages, the short-term outlook remains negative. The current price is significantly below key resistance levels, which are indicated by the moving averages, suggesting that recovery may take time.

In summary, the current technical indicators and the overall market sentiment point towards further downside risk. Therefore, the recommendation for Chainlink (LINK) is to Sell, as the potential for recovery appears limited in the near term.